QFL Screener [ ZCrypto ]

The QFL Screener [ ZCrypto ] indicator scans up to 40 symbols simultaneously to identify mean-reversion opportunities based on the Quickfingersluc (QFL) "Base" strategy.

Usage

The QFL Screener is used to detect "panic selling" events where price drops significantly below a established base, suggesting a high-probability mean-reversion trade. Users can monitor 40 different symbols from a single chart, receiving visual cues and table updates when a symbol meets the QFL criteria.

To use the screener:

• Monitoring Symbols: Observe the on-screen table to see the real-time status of all selected symbols. A green cell indicates a QFL condition has been met, while a red cell indicates it hasn't.
• Chart Signals: When the indicator is applied to a specific chart, a green arrow will appear below the bar when a QFL setup is detected for that specific pair.
• Alerts: Configure alerts using the "Alert frequency" setting to be notified via TradingView notifications as soon as any of the scanned symbols trigger a signal.

Details

The script identifies potential entries by calculating the distance between the local high and low over a specific lookback period (80 bars). A valid QFL setup is identified when:

1. The current price reaches a new low within the lookback period.
2. The percentage difference between the high and low exceeds the user-defined checkThreshold.
3. The drop is not so extreme that it enters a "safety zone" violation, ensuring the price action is likely a mean-reversion setup rather than a terminal collapse.

Settings

Core Settings

• Percentage Threshold: Sets the minimum percentage distance required between the high and the low of the lookback period to trigger a signal.

Table

• Show Table: Toggles the visibility of the summary table.
• Position: Determines where the table is displayed on the chart (e.g., Top Right, Middle Left).
• Text Color: Customizes the color of the text within the table.

Alerts

• Alert frequency: Controls how often alerts are triggered (All, Once Per Bar, or Once Per Bar Close).

Symbols

• Symbol 1 - 40: Allows users to input specific ticker symbols and toggle them on or off for scanning.

Testing

• Activate Backtesting: A toggle for internal testing purposes.
• Value: Input used for testing calculations.

FAQ

How do I add symbols to the scanner?

You can navigate to the "Symbols" group in the script settings and type in any ticker symbol available on TradingView, such as "BTCUSDT" or "AAPL". Ensure the checkbox next to the symbol is enabled.

What does a green cell in the table mean?

A green cell indicates that the QFL mean-reversion conditions have been met for that specific symbol on the current timeframe.

How can I access the QFL Screener [ ZCrypto ]?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.